Grab lifts revenue forecast on strong demand
Grab Holdings has raised its annual revenue and earnings forecasts following a significant jump in second-quarter profits. The company is navigating competitive pressures and rising fuel costs by implementing cost-saving features like order bundling.
Why it matters
Grab's performance serves as a key indicator for the health of the Southeast Asian digital economy and the sustainability of the ride-hailing and delivery business model.
Grab has banked on features such as order bundling and a budget-friendly service tier to drive demand in its core ride-hailing and delivery businesses.
Listen SINGAPORE – Grab Holdings raised its annual earnings and sales forecasts, a sign that robust demand from South-east Asian commuters is helping to absorb the impact of higher fuel prices stemming from the Iran war.
Net profit for the second quarter ended June jumped 620 per cent to US$252 million (S$323 million) from US$35 million a year earlier, after a US$307 million one-time gain from consolidating its Indonesian digital bank, Superbank.
Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 54 per cent to US$168 million, while net revenue advanced 22 per cent to US$997 million.
The ride-hailing and delivery company predicted US$720 million to US$740 million in adjusted EBITDA for 2026, while sales will be as much as US$4.15 billion.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in